Nigeria’s two biggest telecom operators, MTN Nigeria and Airtel Nigeria, spent the last five years pouring billions into 4G, 5G, fibre networks and spectrum licences. The two giant telecoms companies also generated record revenues, driven increasingly by data consumption rather than traditional voice calls. However, across the same period, Nigerians continued to complain about dropped …
The Our Water Our Right Africa Coalition (OWORAC) has warned that growing efforts to expand private sector participation in Africa’s water sector could weaken public accountability and limit access to safe water if communities and workers are sidelined in implementing the Africa Water Vision (AWV) 2063. The warning was contained in a statement issued on …
Muda Yusuf, a renowned economist, has warned that any rate hike could hurt economic growth, weaken businesses and do little to address Nigeria's inflation problem. His warning comes ahead of the Central Bank of Nigeria (CBN) 305th Monetary Policy Committee (MPC) meeting scheduled for May 19–20, 2026, in Abuja. In a statement issued on Sunday, …
Troops of Operation HADIN KAI, working in close coordination with the United States Africa Command (AFRICOM), have killed Abu-Bilal Al-Minuki, the Islamic State’s second-in-command globally, in what military authorities describe as the most significant counter-terrorism breakthrough in Nigeria’s North-East insurgency war in recent years. The high-profile operation, carried out in the early hours of Saturday …
Nigeria’s credit system is failing millions of small businesses and choking economic growth, the Alliance for Economic Research and Ethics has warned. The group pointed this out in a policy document titled 'A Policy Analysis on SME Credit, Development Finance, and the Imperative of Structural Reform', which it issued on Sunday, May 17. It blamed …
International ratings agency S&P Global Ratings has upgraded Nigeria’s long-term credit rating to ‘B’ from ‘B-’, citing stronger foreign exchange reserves, reforms in the oil sector, and rising refining capacity. However, the agency warned that growing election-related spending and rising fuel prices could still weaken the country’s fragile economic gains. In its latest sovereign rating …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against further monetary tightening by the Central Bank of Nigeria (CBN), saying Nigeria’s inflation challenge is being driven largely by structural and supply-side factors that higher interest rates alone cannot solve. The CPPE Chief Executive Officer, Dr Muda Yusuf, who is a renowned economist, …
Nigeria’s headline inflation rose to 15.69 per cent in April, up from the 15.38 per cent recorded in March. This was confirmed in the April 2026 Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday. This marks the second consecutive monthly increase, reversing the extended disinflationary trend seen over …
Dangote Petroleum Refinery has filed a fresh lawsuit against the Nigerian government, seeking to nullify recent fuel import licences issued to the Nigerian National Petroleum Company (NNPC) and other marketers. The case filed against the Attorney General of the Federation at the Federal High Court in Lagos has reignited fresh tension in the downstream petroleum …
The Economic and Financial Crimes Commission (EFCC) has brought popular social media personality and self-styled relationship coach, Blessing CEO, before the Federal High Court in Lagos over allegations of fraud involving ₦36 million. Blessing CEO, legally known as Okoro Blessing Nkiruka, was arraigned on Friday before Justice D.I. Dipeolu at the Federal High Court, sitting …
